Bail is simply the release of an individual in exchange for security. The bail bond company writes a check to the jail for the total amount of the bond guaranteeing that the individual will appear in court at a given time and place.
There are two important terms to understand when working with a bail company, premium and collateral.
Premium: the fee for our services that is paid in advance, non-refundable and renewable on an annual basis should the case go over a year. The bail premium is normally 10% of the total amount of the bond but exceptions can apply. Other fees may include actual, necessary and reasonable expense incurred in connection with the transaction. The court determines the amount of the bond.